{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{6}{c}}
\toprule
                    &\multicolumn{6}{c}{Dependent variable: $X_{ni}/X_n$}                                                                             \\\cmidrule(lr){2-7}
                    &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         &\multicolumn{1}{c}{(3)}         &\multicolumn{1}{c}{(4)}         &\multicolumn{1}{c}{(5)}         &\multicolumn{1}{c}{(6)}         \\
\midrule
$\delta^c \times z_{ni}^{(1)}$&      -0.029\sym{**} &                     &      -0.019\sym{*}  &                     &      -0.021\sym{*}  &                     \\
                    &    (0.0099)         &                     &    (0.0094)         &                     &     (0.011)         &                     \\
\addlinespace
$\delta^c \times z_{ni}^{(2)}$&                     &      -0.026\sym{**} &                     &      -0.018\sym{*}  &                     &      -0.020\sym{*}  \\
                    &                     &    (0.0078)         &                     &    (0.0077)         &                     &    (0.0084)         \\
\addlinespace
$FINDEV^c \times z_{ni}^{(1)}$&       0.050\sym{***}&                     &                     &                     &       0.041\sym{***}&                     \\
                    &     (0.010)         &                     &                     &                     &     (0.012)         &                     \\
\addlinespace
$FINDEV^c \times z_{ni}^{(2)}$&                     &       0.040\sym{***}&                     &                     &                     &       0.032\sym{***}\\
                    &                     &    (0.0082)         &                     &                     &                     &    (0.0094)         \\
\addlinespace
$\log GDPC^c \times z_{ni}^{(1)}$&                     &                     &        0.22\sym{**} &                     &       0.093         &                     \\
                    &                     &                     &     (0.068)         &                     &     (0.076)         &                     \\
\addlinespace
$\log GDPC^c \times z_{ni}^{(2)}$&                     &                     &                     &        0.18\sym{***}&                     &       0.074         \\
                    &                     &                     &                     &     (0.049)         &                     &     (0.054)         \\
\addlinespace
Constant            & 0.000000013\sym{***}& 0.000000013\sym{***}&    -2.4e-09\sym{***}&    -6.2e-09\sym{***}& 0.000000013\sym{***}& 0.000000013\sym{***}\\
                    &   (7.4e-11)         &   (1.2e-10)         &   (1.7e-10)         &   (1.1e-09)         &   (1.0e-10)         &   (1.8e-10)         \\
\midrule
Upstream $\times$ Downstream FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Upstream $\times$ Country FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Downstream $\times$ Country FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
\midrule$R^2$       &        0.54         &        0.54         &        0.54         &        0.54         &        0.54         &        0.54         \\
Observations        &      132300         &      132300         &      133525         &      133525         &      132300         &      132300         \\
\bottomrule
\end{tabular}
}
